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Ramelius Resources Ltd.
Summary
| Project: | Penny West | |
|---|---|---|
| Deposit: | Magenta | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/10/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 10-6-2020: Ramelius Resources Ltd. announces an Exploration/Drilling Update report for its Magenta deposit at the Penny West project. Drilling results incl. 19m @ 4.8g/t Au from 10m. Ramelius Resources Limited (ASX:RMS) (“Ramelius”, “the Company”) is plea | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report] Kevin Seymour (Internal) | |
| ABSTRACT: | Ramelius Resources Limited (ASX:RMS) (“Ramelius”, “the Company”) is pleased to announce that significant gold mineralisation continues to be intersected at the Penny Project whilst the Company advances its Pre-Feasibility Study on the recently acquired Project. Encouragingly, shallow oxide and bedrock gold mineralisation has also been returned from infill drilling at Magenta, located 1.8km north of the Penny North Deposit. Mount Magnet At Mount Magnet, Eridanus continues to deliver very robust thicknesses of mineralised granodiorite below the designed Stage 2 pit cutback. The Company has consequently initiated an underground bulk mining Scoping Study, with the aim of monetising the deposit below the planned open pit. Edna May Exploration around Edna May has also proved encouraging with the discovery through reconnaissance Aircore drilling of a new drill target located 2.5km north of the Symes’ Find Resource. Symes’ Find is accessible via sealed roads and is located 120km southeast from Edna May and 80km south of the Moorine Rock township in Western Australia. | |
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